You are here: Home » PTI Stories » National » News
Business Standard

Tata Motors shares fall on JLR's decision to lay off employees

Topics
Business Finance

Press Trust of India  |  New Delhi 

Shares of Tata Motors fell 3 per cent Friday after the company-owned Jaguar Land Rover said it is undertaking adjustment of vehicle production at its plant at Wolverhampton, England, as a result of which 250 temporary jobs will be affected.

The stock went down 3.02 per cent to end at Rs 171.95 on BSE. During the day, it declined 3.83 per cent to Rs 170.50.

The scrip was the worst hit among the 30-blue chips.

At NSE, shares of the company slipped 2.99 per cent to close at Rs 171.95.

The company further said it will undertake a two-week production pause at the plant in December and has asked 500 workers to stay at home although they would continue to draw salaries during the period.

Terming the external environment as challenging, the company said it is taking decisive actions to achieve the necessary operational efficiencies to safeguard long-term success.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 30 2018. 18:40 IST
RECOMMENDED FOR YOU